Engro Enfrashare signs PKR 4,500 million Islamic syndicated facility with and to finance the development of tower sites for various Mobile Network Operators (MNOs) operating in Pakistan.
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As per terms of the financing arrangement, the tenor of the financing will be seven years, including a grace period of two years.
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Last month, Engro had announced to enhance its total equity investment in the Telecom Infrastructure Vertical to PKR 21,500 million.
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Engro Enfrashare is engaged in the acquisition and construction of shared telecom towers, provision of various telecommunication infrastructure and related services, including state of the art network monitoring solutions.
Since its inception, the Company has now established strong relationships with all MNOs active in Pakistan and is working closely with them to develop build-to-suit (B2S) sites across the country to serve their coverage and capacity requirements.
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